June 7 () –
The Ibex 35 has advanced 0.73% in the week, so that it maintains the level of 11,400 integers, despite having registered a fall of 0.34% this Friday, after the meeting of the European Central Bank (ECB). ) and the presentation of Inditex results.
XTB analyst Manuel Pinto highlights that the Madrid selective has registered in this “historic” week a “superior” performance than the rest of its European counterparts. The main reference has been the first rate cut applied by the ECB since 2019, placing them at 4.25%. The uncertainty now will be knowing what will happen in the next supervisory meetings in July and September.
However, Pinto explains that the different behavior of the Ibex 35 – which closed this Friday at 11,404.9 – has been based on Inditex. “The textile giant, which currently has a weighting of more than 15% of the entire selective, has successfully presented its quarterly results,” explains the analyst.
The ‘utilities’ of the Ibex 35 also registered increases, which took advantage of yesterday’s session to generate “significant capital gains” in the face of monetary policy decisions, and in companies linked to tourism that have taken advantage of the falls in the price of oil after the OPEC decisions.
On the opposite side is Repsol, which falls precisely due to the drops in the price of a barrel, and banking entities, which were impacted by the falls in the Mexican peso, mainly BBVA. Even so, given the current scenario, Pinto believes that they could continue to offer “significant revaluations” in the medium term.
In today’s session, the publication of the non-agricultural employment report in the US stands out, which shows a creation of 272,000 new jobs during the month of May, higher than the 165,000 created in April, although the unemployment rate rose one tenth up to 4%.
“Among all the published metrics, we believe that the greatest number of jobs created is the most important. These results should generate greater concern in the future decisions of the Federal Reserve (Fed), because wage pressure and inflation could continue in the future, increasing the chances of seeing high rates for a longer period of time,” says Pinto.
In today’s session, the biggest increases have once again been, as yesterday, mainly those of the banks, led by Sabadell (+1.24%) followed by Bankinter (+1.20%), Aena (+1.15% ), BBVA (+0.98%) and CaixaBank (+0.96%). On the other hand, the biggest falls have been those of Cellnex (-2.47%), Meliá (-2.38%), Colonial (-2.26%), Solaria (-1.95%) and Merlin ( -1.62%).
In the rest of Europe, the main stock markets have also closed with falls: Frankfurt has lost 0.51%; Milan, 0.50%; and Paris and London, 0.48%.
The price of a barrel of Brent quality oil, a reference for the Old Continent, fell 0.14% at the same time, to $79.76, while that of Texas stood at $75.61, down 0.14%. .07% more.
In the foreign exchange market, the price of the euro against the dollar devalued by 0.74%, to 1.0808 ‘greenbacks’, while in the debt market the interest required on the 10-year Spanish bond stood at 3.344% after adding almost seven basis points, with the risk premium (the differential with the German bond) at 73 points.
Add Comment